A. Create a consumer model that shows how economists explains the consumer choice between two products (X & Y) that maximize the consumer's utility.
b. Show why the equilibrium point (tangency) shows the best bundle of X & Y and that any other point will not reflect a bundle that maximize consumers utility.
c. Derive the demand function from the consumer theory. Do not use numbers. Just graphs and detailed explanation.
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A. Create a consumer model that shows how economists explains the consumer choice between two produc...
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